₹2,870.1 crore in the first quarter, up 11.95 per cent from ₹2,563.6 crore in the corresponding period last year. However, revenue only grew by 6 per cent YoY in the single digits. Let's take a look at what top brokerage firms expect from Wipro's Q2FY24 scorecard: (Exciting news! Mint is now on WhatsApp Channels.
Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Sharekhan believes Wipro may report a sequential decline of 0.4 per cent in revenue in CC terms, in line with Q2 guidance of -2 per cent to 1 per cent. EBIT margin is expected to stay flat, aided by operational efficiencies. Operating profit margin may see a 134 bps YoY rise while net profit is expected to rise 11.4 per cent YoY.
Wipro's IT services CC revenue may decline by -0.9 per cent QoQ, within its guided range of -2 per cent to +1 per cent QoQ in CC, Phillip Capital said. Revenue may be impacted by weakness in BFSI, Hitech verticals and weakness in the consulting business. PAT may see a 15.3 per cent YoY rise.
The brokerage firm believes Wipro's IT services margins are expected to remain steady at 16.1 per cent. Q3FY24 growth guidance, consulting outlook, large deal wins and pipeline, vertical outlook and margins outlook are likely to be in focus. The brokerage firm expects Wipro to report a revenue decline of 1.2 per cent QoQ CC, due to the growing intensity of adverse macroeconomic conditions, leading to demand softness in verticals beyond BFS and consumer.
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